HB2909eng 101ST GENERAL ASSEMBLY

HB2909 Engrossed LRB101 09109 RPS 54202 b

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 3. The Property Tax Code is amended by adding Section 9-195.1 as follows:

(35 ILCS 200/9-195.1 new)

Sec. 9-195.1. Leases of certain real property. If the property located at 558 West De Koven Street in Chicago becomes an asset of the Firemen's Annuity and Benefit Fund by operation of Section 6-165.3 of the Illinois Pension Code, and if the Fund subsequently leases the property to an entity whose property is not exempt, then the leasehold estate and the appurtenances shall be listed as the property of the lessee or his or her assignee. Taxes on that property shall be collected in the same manner as on property that is not exempt, and the lessee shall be liable for those taxes. However, no tax lien shall attach to the exempt real estate.

Section 5. The Illinois Pension Code is amended by adding Section 6-165.3 as follows:

(40 ILCS 5/6-165.3 new)

Sec. 6-165.3. Use of certain real property. If the city discontinues use of the property located at 558 West De Koven Street in Chicago as an academy for the training of firefighters, the city shall, as soon as practicable, transfer the property to the Fund. The transferred property shall be considered an asset of the Fund, but shall not be considered as part of the city's required contribution under Section 6-165 in any year or to meet the funding obligation under Section 6-165.2 in any year. In administering the asset, the Fund shall exercise its fiduciary duties; however, in accordance with those fiduciary duties, the Fund shall prioritize uses that add value to the Chicago Fire Department and its membership. If the property is transferred to the Fund, the Fund may not sell that property without the affirmative vote of the three-fifths of the members of the board. The conveyance of the property located at 558 West De Koven Street in Chicago is an exclusive power and function of the State. This Section is a denial and limitation of home rule powers under subsection (h) of Section 6 of Article VII of the Illinois Constitution.

Section 90. The State Mandates Act is amended by adding Section 8.43 as follows:

(30 ILCS 805/8.43 new)

Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8 of this Act, no reimbursement by the State is required for the implementation of any mandate created by this amendatory Act of the 101st General Assembly.

Section 99. Effective date. This Act takes effect upon becoming law.